Officially the Republic of Paraguay, is a landlocked country in central South America, bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the country from north to south. Paraguay has a market economy highly dependent on agriculture products. Paraguay has a small but rapidly growing open economy, with strong demand for U.S. manufactured products, and the potential for continued growth over the next decade. In recent years, the economy has grown as a result of increased agricultural exports, especially soybeans. Major industries of Paraguay are Agriculture, Cement, Food Processing, Forestry,Textiles, Timber Products, Vegetable Oil Refining.